Habyt Receives Investment

Habyt, a Berlin-based startup, has secured $42 million in a Series C funding round to expand its Airbnb-style platform for longer stays and flexible living arrangements. The funding round is significant given the current constraints on startup funding and the travel industry's recovery from the COVID-19 pandemic.

Habyt aims to appeal to individuals and families looking to stay in cities for an extended period of time, typically between six and nine months. This target audience includes digital nomads and those who benefit from flexible working policies. Habyt offers a digital platform for the increase in remote working and the need for more adaptable living arrangements. A digital platform that connects hosts and guests by offering a wide range of fully furnished apartments and rooms in more than 50 cities.

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Habyt, a Berlin-based startup

The company achieved rapid growth last year, increasing its stock from 5,000 units in 18 cities to 30,000 units in 50 cities. Habyt's success can also be attributed to its focus on unit economics and profitability. Many major markets are already profitable, including Berlin, Madrid, Hong Kong and Singapore. At the same time, Habyt expects to reach the profitability of the entire company by 2024.

Like Airbnb, Habyt operates in the residential and physical world, but differentiates itself by offering a technology-driven end-to-end solution. Unlike traditional processes for renting accommodation, Habyt's platform allows users to search, view and transact online. Virtual viewings are supported and all necessary contracts, documents and authentications are digitally realised.

The latest funding will be used to further develop Habyt's technology platform and expand its business in Europe, Asia and North America. The company plans to continue taking inventory from both private landlords and corporate property owners in order to provide a consistent experience for its users. By the way, it should be noted. The Series C funding round was led by Korelya Capital and Deutsche Invest, with participation from new investors Exor Ventures and Endeavour Catalyst, as well as existing backers including P101, Vorwerk Ventures and Kinnevik.